Engineering consultancy RINA acquires Foreship
RINA, the multinational engineering consultancy, inspection and certification group, has acquired the entire share capital of Foreship, a renowned Finnish company specialising in naval architecture and marine engineering, from Vaaka Partners' managers.
The acquisition marks a further expansion of RINA’s marine engineering consultancy offering worldwide, while strengthening its global position in marine consulting in Northern Europe.
Foreship, with its HQ in Helsinki, specialises in cruise ship design, energy-efficient vessel innovations, and sustainable marine technologies. It has over 90 employees across eight offices globally, including the USA, UK and Estonia. Its unique and distinctive experience in naval architecture offers high synergies within RINA Consulting and opportunities to increase market share in the maritime consultancy sector, particularly in complex retrofits, new fuel integrations, and digital transformation.
Lauri Haavisto, Chief Executive Officer of Foreship, said:
“Foreship’s vision is to lead in sustainable passenger ship conversions, new builds, and consultancy. Joining forces with a global partner like RINA will accelerate our growth, expand our knowledge, and strengthen our client relationships, while continuing to foster the close collaboration we value.”
RINA specialises in testing, inspection, certification, and engineering solutions across a wide range of markets, including marine, energy, infrastructure and mobility. With more than 5,800 employees around the world, it simplifies complexities with a focus on energy transition, ESG and digitalisation.
Ugo Salerno, Executive Chairman of RINA, commented:
“Foreship offers unique competence which is highly appreciated by its clients. It brings an exceptional track record and a depth of expertise in naval architecture that complements our own consulting engineering capabilities. Together, on a shared path of growth, we will deliver even greater value to the global shipping industry, advancing sustainability, digital innovation and ship lifecycle services.”
Within the marine sector, RINA concentrates on ship classification alongside sustainability. providing software and digital solutions for navigation and fleet management with a particular focus on energy efficiency.
Carlo Luzzatto, Chief Executive Officer and General Manager of RINA, concluded:
“We are proud to welcome into our group a company that shares our core values of independence, innovation, and engineering excellence. This acquisition aligns with our strategic plan to become an increasingly essential reference point for our clients, supporting them with our broad-based knowledge.
“Foreship’s solid reputation and global customer base, including major cruise lines and shipping companies, make it a natural fit for our fast-growing marine consulting business. Foreship reputation as a trusted independent advisor is seen as a core asset that RINA aims to preserve and enhance.”
In line with RINA’s governance and organisational model, Foreship operations will be part of RINA Consulting.
Lazard assisted RINA as financial advisor. RINA was also supported by Bain & Company, which assisted RINA in the commercial due diligence, and by PwC, which assisted in the financial and tax due diligence. Borenius Attorneys acted as legal counsel to RINA in connection with the transaction.